Tips for Selling Luxury Real Estate

Luxury real estate homeowners in the market to sell their homes face a longer and bumpier road to the closing table than most homeowners due to a small pool of buyers, the challenge of setting a price for a unique piece of real estate, and savvy buyers that sometimes– because of their affluence – are in no hurry to buy.

As experienced luxury real estate home agents we focus on selling the lifestyle that the home represents.  We understand the affluent buyers and their triggers to buy and we target them with what we know they are looking for.

 Competition for the luxury real estate home buyer is sometimes quite fierce. To make the home stand out among the competition and negotiate a deal that will stick requires creativity, ingenuity, tenacity and sophistication.

Approach it as a Business Decision

A buyer may request certain changes to be made as part of a deal, but sometimes sellers will see these requests for changes as an insult to their taste or affront to the time, money and dedication they put into the luxury property.

No matter how affluent you are, your home represents a substantial financial asset, the sale of which needs to be approached as a business deal. Nothing during the process should be taken personally. Try to remain unemotional to help the sale run to a smooth closing and facilitate discussions and negotiations.

Make the Right First Impression

From enhancing your property’s curb appeal with enhanced landscaping to rearranging all of the existing furniture, there are numerous ways to capture the interest of a buyer from the moment they arrive for the first time. Staging a home correctly can make or break the success of a sale.

Encourage Marketing Through Multiple Channels

Effective advertising is key to any business, and selling a home should be approached as a business transaction. By utilizing print, online, networking and other available marketing channels, a luxury home for sale can gain the level of exposure necessary to target and bring in potential buyers. We have a large network of connections to help gain traction in our luxury real estate deals.

Pricing is Not an Exact Science

When dealing with unique, custom luxury homes pricing can be challenging.  How do you compare the uncomparable?  However, experienced luxury real estate agents do have a sense of general market levels and what the market will bear.   A common mistake in pricing luxury homes is to overprice them, while some time on the market may be expected depending on the price of the home, sitting for too long can stagnate a listing and buyers may discount or ignore the home thinking it is overpriced or that the seller is unreasonable.

Set Realistic Goals

An agent’s primary objective is to satisfy his or her client and accomplish their goals for them.  But sometimes that means that sellers have to hear some hard truths about the property, the staging, and even the listing price. What is important is to remember that professionals are here to be honest and set realistic goals.  The better an agent and client can communicate upfront about their goals and the way to accomplish them, the more the client will feel empowered and understand what needs to be done in order to fulfill their expectations.

Consider Throwing in Extra Incentives

Do you have something that can help sweeten the deal? Your custom designed furniture that may be hard for you to use elsewhere or hand-picked art pieces can become the leverage you need in order to motivate a buyer to make a deal that will make you and them happy.

Get Your Luxury Home Sold

Do you have more questions about selling luxury real estate?

The brokerage of StoneCrest Realty prides itself in delivering the quality of service you need in order to sell your luxury property. Contact us today for more tips or to connect with an agent to help in selling your luxury property.